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The direct interconnection of the UK and Nordic power market – Impact on social welfare and renewable energy integration

Zakeri, B; Price, J; Zeyringer, M; Keppo, I; Mathiesen, BV; Syri, S; (2018) The direct interconnection of the UK and Nordic power market – Impact on social welfare and renewable energy integration. Energy , 162 pp. 1193-1204. 10.1016/j.energy.2018.08.019. Green open access

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Abstract

United Kingdom and the Nordic power market have plans to interlink directly through a sub-sea power transmission line in The North Sea. Such power market couplings have complicated implications for the interconnected energy systems and for different agents in the common power market. We analyse this case by modelling the hourly operation of the Nordic-UK power market coupling, considering the local district heating (DH) system in each country as well. According to the results, after the operation of the new interconnection between Norway and the UK (North Sea Link), the overall socio-economic benefits (social welfare) in the region will likely improve by 220–230 million euro per year, without considering the cost of the interconnector itself. The UK-Nordic market coupling enhances the flexibility of the UK power system in wind integration, irrespective of the share of wind in the Nordic countries. However, increasing wind capacity in the UK will diminish the expected economic benefits of the link. The merit order effect of wind integration in the UK will reduce the price gap between UK and Norway, and so the congestion income of the link in many hours a year when the link is congested from Norway towards the UK.

Type: Article
Title: The direct interconnection of the UK and Nordic power market – Impact on social welfare and renewable energy integration
Open access status: An open access version is available from UCL Discovery
DOI: 10.1016/j.energy.2018.08.019
Publisher version: http://dx.doi.org/10.1016/j.energy.2018.08.019
Language: English
Additional information: © 2018 Elsevier Ltd. This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: Energy systems model, European energy market, Energy policy, Power market coupling, Renewable energy integration
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Chemical Engineering
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Bartlett School Env, Energy and Resources
URI: https://discovery.ucl.ac.uk/id/eprint/10058911
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